Diamond Hill Capital Management Inc. Has $8,968,000 Stake in TriMas Corp (NYSE:TRS)
Diamond Hill Capital Management Inc. maintained its stake in shares of TriMas Corp (NYSE:TRS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,141 shares of the industrial products company’s stock at the end of the second quarter. Diamond Hill Capital Management Inc. owned about 0.94% of TriMas Corp worth $8,968,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. GW&K Investment Management LLC bought a new stake in shares of TriMas Corp during the second quarter worth approximately $205,000. Renaissance Technologies LLC acquired a new stake in TriMas Corp during the first quarter valued at about $357,000. Capital Fund Management S.A. acquired a new stake in TriMas Corp during the first quarter valued at about $427,000. Tudor Investment Corp ET AL boosted its stake in TriMas Corp by 14.6% in the first quarter. Tudor Investment Corp ET AL now owns 20,679 shares of the industrial products company’s stock valued at $429,000 after buying an additional 2,635 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in TriMas Corp by 9.2% in the first quarter. Bank of America Corp DE now owns 25,817 shares of the industrial products company’s stock valued at $536,000 after buying an additional 2,169 shares in the last quarter.
Shares of TriMas Corp (NYSE:TRS) remained flat at $23.90 during trading on Friday. 225,446 shares of the company were exchanged. The firm has a 50 day moving average price of $22.39 and a 200-day moving average price of $21.87. The company’s market capitalization is $1.09 billion. TriMas Corp has a 52-week low of $17.00 and a 52-week high of $25.00.
TriMas Corp (NYSE:TRS) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The company had revenue of $213.39 million during the quarter, compared to analyst estimates of $205.22 million. During the same period in the previous year, the business earned $0.34 EPS. TriMas Corp’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that TriMas Corp will post $1.43 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the company. ValuEngine upgraded TriMas Corp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded TriMas Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded TriMas Corp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a “hold” rating and set a $24.00 target price (up previously from $22.00) on shares of TriMas Corp in a research report on Monday, July 31st. Finally, J P Morgan Chase & Co upgraded TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 target price for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. TriMas Corp presently has an average rating of “Hold” and an average target price of $24.25.
In other news, Director Nancy Gougarty sold 5,882 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.80, for a total value of $145,873.60. Following the completion of the sale, the director now directly owns 19,293 shares in the company, valued at $478,466.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert J. Zalupski sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,082 shares of company stock valued at $268,554.
About TriMas Corp
TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.
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